8216 Casa Verde Rd Unit C136

Laredo, TX 78041

$222,000D-

3 bd · 2.5 ba · 1,464 sqft · Built 2012 · Condo · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,977/mo
• Mortgage (P&I): −$1,164
• Tax + insurance: −$416
• HOA: −$0
• Vac / Maint / Mgmt: −$415
• Net cashflow: $-19/mo
• Annual: $-229/yr
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• 1% rule: 0.89%
• Cash to close: $62,160

Investor read

• This is a 3-bed/2.5-bath condo listed at $222k.
• At list price, monthly cash flow is $-19 ($-229/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (11.0% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $198k (11.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#227 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• United ISD (urban): math 27% / reading 38% proficiency, ranked #568 of 826 in TX (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Col Santos Benavides El (math 32% / reading 49%, grade F, #1,490 of 4,322 statewide, top 35%, 895 students, 36% FRL); United Middle (math 39% / reading 51%, grade D, #479 of 1,662 statewide, top 29%, 1,092 students, 49% FRL); John B Alexander H S (math 36% / reading 59%, grade D, #583 of 1,632 statewide, top 36%, 3,070 students, 60% FRL) — zoned schools average 48% FRL vs 72% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 125 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,448 units permitted in Webb County in 2024 (245 in 5+ unit buildings).
• Webb County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $154k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 6.2% vs local median 4.1% in Laredo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.